Intellectual Capital
Our innovation focus allows us to bring the best products and experience to our customers through strong value propositions and bespoke solutions tailored to their evolving needs and preferences. We continue to exceed the expectations of our customers by providing them with need-based solutions that help them plan their financial goals in a better manner. Our simple, easy-to-understand and distinct products are motivating our patrons to accept responsibilities with a smile on their face. They are protecting the future of not just themselves, but their entire family and in the process are multiplying their happiness, today and tomorrow.
With this approach, we have varied products in our basket to cater to the needs to different customer segments. During the year, we added two new products
The key features of these products are explained here:
SBI Life – Saral InsureWealth Plus (UIN: 111L124V01)
SBI Life – Smart InsureWealth Plus (UIN: 111L125V01)
Both these products are witnessing healthy acceptance among consumers. Given the need-based nature of our products, they help customers assume additional responsibilities without any stress.
At SBI Life, we are keen to adopt cutting-edge technology to fulfil the needs of our customers as per their convenience, enhance the overall customer experience and remain the ‘life insurer of their choice’. SBI Life has adopted this journey successfully since June 2017.
We have adopted a two-pronged strategy to maximise the potential of our digitalisation offerings.
Our digitalisation approach undertaken is about making wise investment choices to maximise competitive advantage, growth, profit and value.
Impact of digital initiatives
With a mission of reaching and protecting our customers with speed and efficiency, we have embraced technology and are augmenting our activities across customer servicing, new business development and internal engagement. On one hand, our digital offerings and platforms provide higher convenience to our customers, while on the other, they help reduce turnaround time and achieve higher efficiencies across our operations.
In a nutshell, our digitalisation activities are playing a crucial role in delighting our patrons, every day. We offer them higher connectivity, convenience and customisation and consequently, are reinstating their faith and trust in our abilities.
Customer service
Queries resolved through chatbot
Unique users
Users of our customer self-service portal, MyPolicy Login
Renewal premium collected through app
Digital resolution of queries and requests
Queries resolved by call centres
Queries handled by IVR
Fund value service requests through missed calls
Using WhatsApp to connect with customers
Registered users on WhatsApp
Customers sent renewal premium reminders on WhatsApp
Enables customers to undertake financial planning based on their goals and risk appetite
New business
Customer acquisition and servicing platforms
Active users
Proposals uploaded
issues Instant protection policy in just three clicks
covered in 6 months
Increase in digitally sourced policies
pre-issuance welcome call
Documents easily uploaded using inbuilt document upload facility
All application tools are equipped with inbuilt premium calculators
Employee engagement and social media
For continuous engagement with sales force and employees
Online tool for learning development of employees, distributors
Fans across social media platforms
Video views across major campaigns
For salesforce to track targets and manage leads and conduct review meetings
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